ENRA Group Berhad Annual Report 2020

ENRA Group Berhad - Annual Report 2020 158 STATEMENT ACCOMPANYING NOTICE OF 28 TH ANNUAL GENERAL MEETING (Pursuant to Paragraph 8.27 (2) of Bursa Malaysia Securities Berhad Main Market Listing Requirements) No notice in writing has been received by the Company nominating any candidate for election as Director at the 28 th AGM of the Company. The Directors who are due for retirement and seeking for re-election pursuant to the Company’s Constitution are as set out in the Notice of 28 th AGM and their profile are set out in the Directors’ Profile in the Annual Report 2020. Authority for Directors to issue and allot shares in the Company pursuant to Sections 75 and 76 of the Companies Act, 2016 This is a mandate to be obtained from the shareholders of the Company to empower the Directors of the Company to issue and allot shares up to an aggregate amount not exceeding 10% of the issued share capital of the Company for the time being for such purposes as the Directors consider would be in the best interest of the Company. This authority unless revoked or varied by the Company at a general meeting will expire at the next AGM. The Board is of the view that this mandate is in the best interest of the Company as it would provide flexibility to the Company for any possible fund-raising exercise, including but not limited for further placing of shares, for purpose of funding future investment projects, working capital and/or acquisitions. This authority is to avoid any delay and cost involved in convening a general meeting to approve such issuance of shares. As at the date of this Notice, no new shares in the Company were issued pursuant to the mandate granted to the Directors at the 27 th AGM held on 19 September 2019 and which will lapse at the conclusion of the 28 th AGM to be held on 25 September 2020.